The Board of CIM Financial Services Ltd (‘Cim Financial Services’) wishes to inform its shareholders and the investing public that its wholly owned subsidiaries CIM Finance Ltd (‘Cim Finance’) and Mauritian Eagle Leasing Company Limited (‘MELCO’) have notified the Bank of Mauritius of their intention to surrender their deposit-taking licence.

Cim Finance and MELCO will focus their development plans on their respective core businesses, which are credit financing (consumer finance, cards and payment, leasing and factoring activities) and leasing respectively.

Cim Financial Services intends to support the activities of the said subsidiaries on the back of its strong balance sheet. The company will also look at raising funds through capital markets in Mauritius to diversify its funding mix and support the future growth of Cim Finance and MELCO.

The Board of Cim Financial Services will continue to work on streamlining the Group’s structure following the listing of Lavastone Ltd and shareholders will be kept informed on any developments in this respect in due course.

By order of the Board
Cim Administrators Ltd
Company Secretary
19 April 2019

This notice is given pursuant to Listing Rules 11.3 and Rule 5 of the Securities (Disclosure Obligations of Reporting Issuers) Rules 2007 and the Securities Act 2005.
The Board of Directors of CIM Financial Services Ltd accepts full responsibility for the accuracy of the information contained in this notice.